








































1/429 Covages Lane, Freshwater, Newfoundland & Labrador A1Y1C6
$199,900 total
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Asset Class
Specialty
Size
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Building class
B
Zoning
DC2 — Site Specific
$ / SF
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Occupancy
88%
Year Built
1920
A Room With a View...Or maybe you fancy ALL rooms with a view. The 14 oh so worn windows in this 100 yr old saltbox, have a story to tell from every one. The never disappointing Ocean, Carbonear and Maiden Islands, trees of every kind, hills, a church, a cherub and a fairy forest ! But before you fall in love with this treasure, and before you are completely enchanted by this quaint seaside town called Freshwater...I have something to tell you. This imperfect piece of Newfoundland art needs an extensive renovation and restoration. But it's rich heritage and untouched original architecture, was such an inspiring canvas for my eclectic mix of family pieces, and my lifetime collection of salvaged and curated finds, I couldn't help myself from staging this old, forgotten beauty, so all could see it's unbelievable potential. The builder of this weathered soul was Benjamin Noel. I can only imagine he must have been a master of his craft, because his work is still standing so straight and solid, with a very level staircase and floors. A centre hall floor plan and formal dining room is lovely and functional. The almost unheard of 8 1/2 ft ceilings on the main floor is such a special feature. Most of the home is original. Ceilings, floors, wainscoting, doors, hardware, fireplace mantels, with updated reproduction light fixtures. Storage room can be converted to bathroom/laundry combination. Electrical upgraded years ago. Baseboards, 200 AMP. panel. Shingles and back porch roof, replaced 2025. Room to build a large ""old"" vintage barn, plus parking for several cars. Carbonear amenities and hospital, 10 minute drive. One hour 20 mins. from St. John's. If you want to leave the banality of new and perfect behind, in favour of a cottage waiting to emerge, please come visit ""Perry-Winkle Place"", and maybe you will be as inspired as I am. (id:66811)
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Monthly debt service
$923
Projected NOI
$13K
Annual cash flow
$2K
Cash-on-cash
2.55%
DSCR
1.14
Going-in cap
6.31%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Trade area within 3 miles of the property.
Population
116,447
Households
54,615
Median income
$72,000
Median age
40.7
Daytime population
148,125
5-yr growth
8.8%
Modelled estimates for illustration until a licensed census data provider is connected.
Confidential diligence documents for 9 Covages Lane, Freshwater.
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.